How Is the Solar Tracker Market Growing Due to Rising Renewable Energy Adoption and Tech Advancements?

Market Overview

The global solar tracker market was valued at USD 7.75 Billion in 2024 and is forecast to reach USD 32.4 Billion by 2033, growing at a CAGR of 17.2% during the 2025-2033 period. Driven by the rising adoption of renewable energy, falling costs in solar technology, and growing utility-scale projects, the market is dominated by North America with over 32% share in 2024. Continual technological advancements, including AI and IoT integration, are enhancing efficiency and reliability.

Study Assumption Years
• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Period: 2025-2033

Market Key Takeaways
• Current Market Size: USD 7.75 Billion in 2024
• CAGR: 17.2% from 2025-2033
• Forecast Period: 2025-2033
• North America held over 32.0% market share in 2024, led by U.S. investments and incentives.
• Most commercial solar trackers are active solar trackers that rely on sophisticated sensors and motors.
• Approximately 90 percent of the solar tracking market is made up of single-axis tracking, which is mostly due to its inexpensive nature.
• By 2024, the market share of solar photovoltaics (PV) will be about 92.5%.
• Among the sectors, the utility sector is the biggest consumer with a market share of 86.6%.

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Market Growth Factors

The solar trackers market is expanding as a result of entities investing in renewable energy projects in order to achieve their sustainability goals, governments worldwide targeting nationally, and tax credits and subsidies encouraging the adoption of solar energy systems for sustainable development and carbon emission reduction. This is the outcome of supportive government policies, an increasing focus on energy security from renewable sources, and low carbon power generation. The better performance and longer lifespan of solar trackers are also some of the factors that are attracting more investors and utility developers. The worldwide renewable installed capacity is anticipated to increase substantially from 2023 to 2028 and hit 7300 GW.

The cost of solar electric panels has come down significantly in the last ten years along with the cost of solar technologies. Generally, technology gets better through production when the prices are lower, and it moves forward. This also attracts a large number of solar systems that adopt solar trackers. After that, solar power generation can be increased by solar panel installation through the use of solar energy trackers in an efficient manner. The International Energy Agency (IEA) predicts that worldwide renewable electricity generation will surpass 17000 TWh by 2030. This figure will be almost 90% higher than 2023, enough to cover the total electricity demand within China and the United States. Constant efforts to improve efficiency and price of trackers lead to the adoption of devices by residential, commercial, and industrial customers.

Moreover, the growth of the solar tracker market is also attributed to its huge contribution in maximizing the amount of energy a utility-scale solar system can generate, as the need to constantly face the sun makes trackers indispensable. The worldwide total amount of utility scale generation was close to 3287 billion kWh by September 2024, showing a year-on-year increase of 3%. A few more solar trackers have been installed lately in both public and private investments in mega-scale solar plants located in areas with high solar insolation. The reason for this is that tracking systems must be installed so as to meet the energy requirements of large-scale solar plants, thus it will continue to rise.

Market Segmentation

Type:
• Active Solar Tracker: Incorporates motors and sensors to follow the sun's movement, producing more power than fixed systems; dominant due to enhanced efficiency.
• Passive Solar Tracker: Not elaborated in detail, implies less technology than active trackers.

Tracking Type:
• Single Axis Tracking:
• HSAT (Horizontal Single Axis Trackers)
• VSAT (Vertical Single Axis Trackers)
• TSAT (Titled Single Axis Trackers)
• PSAT (Polar Aligned Single Axis Trackers)
*Single axis tracking leads with around 90.0% market share due to lower costs and simplicity.*
• Dual Axis Tracking:
• TTDAT (Tip-Tilt Dual Axis Trackers)
• AADAT (Azimuth-Altitude Dual Axis Trackers)

Technology:
• Solar Photovoltaic (PV): Holds around 92.5% market share; highly compatible with trackers for increased electricity output.
• Concentrated Solar Power (CSP): Not elaborated in detail.
• Concentrated Photovoltaic (CPV): Not elaborated in detail.
Application:
• Utility Sector: Around 86.6% share; large-scale solar farms rely on trackers to maximize power generation for electrical grids.
• Residential Sector: Not detailed; assumed smaller share.
• Commercial Sector: Not detailed; assumed smaller share.

Regional Insights

In 2024, North America was the leader in the solar tracker market with a share of more than 32.0% mainly due to government initiatives, heavy renewable energy investments, and regulations that supported technology adoption. The U.S. was the major contributor to the growth of the share due to federal tax credits, state incentives, and the increasing capacity of utility-scale solar installations. Besides that, there are major market players and advanced technologies in the region which help in the dominance of solar trackers.

Recent Developments & News

• February 2024: Array Technologies Inc. partnered with ALUPCO® to combine industry-leading products and aluminum production capabilities for expanding renewable energy projects in the Middle East.
• January 2024: Arctech Solar Holding Co. Ltd. expanded into Turkey via partnership with Alpon Energy, focusing on solar trackers and EPC work.
• January 2024: First Solar Inc. partnered with cleantech solar to supply clean electricity to its 3.3 gigawatt manufacturing plant in Sriperumbudur.

Key Players
• Arctech Solar Holding Co. Ltd.
• Array Technologies Inc.
• Convert Italia SpA (Valmont Industries Inc.)
• DEGER energie GmbH & Co KG
• First Solar Inc.
• Nextracker Inc. (Flex Ltd.)
• Powerway Renewable Energy Co. (SinoTech Power Group)
• Soltec Energias Renovables S.L.
• Sunpower Corporation (Total S.A.)

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